An awesome cryptographic feature of the bitchain mining system is that new bitchains can be mined using the same computational resources that bitcoin miners use for negligible extra effort. ie. Instead of creating lottery tickets and entering them in one lottery they can create lottery tickets and enter the same ticket in 20 different lotteries. This drastically lowers (but doesn’t remove) the difficulty in getting alternate bitchains to be secure.
I thought merged mining only worked for Bitcoin+Namecoin? I was looking into mining Bitcoin and Litecoin simultaneously, but it looked like it simply wouldn’t work with cgminer and in general.
I thought merged mining only worked for Bitcoin+Namecoin? I was looking into mining Bitcoin and Litecoin simultaneously, but it looked like it simply wouldn’t work with cgminer and in general.
Merged mining requires a small change to the bitchain of all but one of the currencies. So you can merge mine bitcoin + 20 merge mining enabled currencies OR you can merge mine litecoin + 20 merge mining enabled currencies.
Currencies that can currently be merge mined with BTC (and that I am aware of):
NameCoin—Store aliases and soforth conveniently. Is complementary to bitcoin for some use-cases.
DevCoin --- (Roughly speaking) a charity for funding opensource developers.
TonalCoin—Which somehow is also embedded in the bitcoin blockchain and allows bitcoins to be traded using a different number system.
IxCoin—Utterly pointless attempt to cash in on crypto speculation.
I thought merged mining only worked for Bitcoin+Namecoin? I was looking into mining Bitcoin and Litecoin simultaneously, but it looked like it simply wouldn’t work with
cgminer
and in general.Merged mining requires a small change to the bitchain of all but one of the currencies. So you can merge mine bitcoin + 20 merge mining enabled currencies OR you can merge mine litecoin + 20 merge mining enabled currencies.
Currencies that can currently be merge mined with BTC (and that I am aware of):
NameCoin—Store aliases and soforth conveniently. Is complementary to bitcoin for some use-cases.
DevCoin --- (Roughly speaking) a charity for funding opensource developers.
TonalCoin—Which somehow is also embedded in the bitcoin blockchain and allows bitcoins to be traded using a different number system.
IxCoin—Utterly pointless attempt to cash in on crypto speculation.